⚠️Managed Money (the big specs/hedge funds) aggressively bought +5,494 long contracts this week while cutting shorts.
💥They’re now heavily net long at 21,191 contracts (or WERE as of 5/12).
These numbers were as of Tuesday however- the penultimate day of silver’s major 6 day squeeze from the low $70’s to $90.
Any specs who chased and went long the last 24-48 hours of the vertical move likely were stopped out.
Expect the managed money numbers to look DRASTICALLY different on next week’s report, as it will catch what occurred during Thursday & Friday’s brutal sell-off.
